Prepare for competitive exams the smart way on the Aakash App for JEE & NEET aspirants. As far as Aakash Educational Services is concerned, the deal with BYJUS will enable them to add online learning to its services. Former upGrad CEO to lead BYJU'S international business: Sources Edtech giant Byju's on Monday said that it is acquiring Blackstone-backed Aakash Educational Services. I will run test prep for Think and Learn Private Ltd, the parent company of Byjus, he said. From a tuition centre to a national brand, we have moved a long way. From 12 students in 1988, Aakash grew to 215 centres, with a student count of more than 250,000. All Right Reserved. The pandemic has brought the importance and urgency of the blended format of learning to the forefront. Among the four major areas of ed-tech i.e., K-12, test prep, skill development, and online certification, the test prep is considered to be the evergreen market for Ed-tech as the students are obsessed with the grades, the right coaching and guidance provide them the admission in top colleges of engineering and medical courses. It. You must search for the services they provide and what types of courses will help you. It is worth noting that this is Mohan's second stint at BYJU'S. Before this, he was the Chief Business Officer of BYJU'S for . "There's a big gap between value and valuation," he said. You can click on this link and join: https://t.me/joinchat/J_0YrBa4IBSHdpuTfQO_sA. [4] It was founded in 2011 by Byju Raveendran and Divya Gokulnath. BYJU;S had a strong presence across urban markets even before the pandemic fuelled the recent Ed-tech boom. Copyright 2016, All Rights Reserved. Bisen points out that the Byjus-Aakash deal needs to be seen in the overall context of the test prep space in general. Delivering a world-class learning experience, programs from BYJUS are making learning contextual and visual. Follow us on Facebook, Twitter, YouTube & Instagram to never miss an update from Fortune India. The addition of Aakash is a significant step towards strengthening its product offering, he added. If we are talking about Indias ed-tech startups then Byjus has its place at the top. By acquiring the Aakash the BYJUS makes its presence in the test prep segment the best choice for the students as it provides the blend of both the technology of the BYJUS and the expertise of the Aakash, so the students can learn from home as well as take guidance from the experts. https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/byjus-acquires-virtual-simulations-startup-labinapp/articleshow/78179179.cms, https://inc42.com/features/how-can-byjus-acquisition-of-aakash-change-the-test-prep-market/, https://techstory.in/aakash-acquired-by-byjus-for-1-billion-cash-stock/, https://www.financialexpress.com/industry/sme/biggest-deal-in-edtech-sector-byjus-to-acquire-aakash-for-1-billion/2227466/, https://www.thehindubusinessline.com/news/education/byjus-acquires-aakash-educational-services/article34243695.ece, https://www.livemint.com/companies/start-ups/from-collaboration-to-take-over-it-took-6-months-to-reach-byju-s-deal-11618946215405.html, Free Online (Live only) 3-Day Bootcamp On, Weekly Competition Week 1 December 2019, Weekly Competition Week 2 December 2019, Weekly Competition Week 3 December 2019, Weekly Competition Week 4 December 2019, Weekly Competition Week 1 November 2019, Weekly Competition Week 2 November 2019, Weekly Competition Week 3 November 2019, Weekly Competition Week 4 November 2019, Weekly Competition Week 2 October 2019, Weekly Competition Week 3 October 2019, Weekly Competition Week 4 October 2019, Weekly Competition Week 3 September 2019, Weekly Competition Week 4 September 2019, Participating in auction: the things to look out for, Improving the corporate performance of a company, All you need to know about insurance contract law. Now with the pandemic, and the uncertainty arising from it, it could hasten the process of digitalisation among traditional players in the test prep space. "Byju's was essentially selling hardware, like its tablets, with study material that could be found online for free," he says. You have successfully registered for the webinar. JEE Advanced (formerly known as IIT JEE) is the second phase of the IIT JEE and is usually conducted after the JEE Main exam. Within two and a half months, at the height . The informal setup may suffer, but not too much, Bisen says. Aakash App for JEE & NEET has an APK download size of 140964 kb and the latest version available is 3.10.1.16534 . Over the years, students from Aakash BYJU'S have a proven selection track record in various Medical & Engineering . BYJU;S had a strong presence across urban markets even before the pandemic fuelled the recent Ed-tech boom. This deal reflects the reality of the omni-channel model, he says. He is a teacher himselfwe are doing this for the past 30 yearsour ethos was similar. as we combine our expertise to create impactful experiences for students. bootcamps so far, Aakash institute acquired by BYJUs: Ed-tech acquisition case analysis, This article is written by Anika Jhaveri, pursuing a, Diploma in M&A, Institutional Finance and Investment Laws (PE and VC transactions), In this article, I am going to talk about the acquisition deal between, Aakash Educational Services Limited Institute. Comments have to be in English, and in full sentences. Aakash Educational Services scored higher in 8 areas: Overall Rating, Culture & Values, Diversity & Inclusion, Work-life balance, Senior Management, CEO Approval, Recommend to a friend and Positive Business Outlook. "This is true for all companies in the edtech sector.". It was an emotional moment. Aakash and BYJU's as the leading institutes of India, provide their students with top-notch facilities whether you take about the . Both of us were thinking the same thingabout empowering students and teachers. with its expert faculty. - Quora. The acquisition, which comes in the form of a cash-and-stock deal, is reportedly worth nearly $1 billion, making it the biggest in the edtech space. The major reason why the deal is done is pretty clear, as BYJUS has not had traditional classroom coaching for a while now while Aakash has a pretty strong base there. Edtech unicorn Byju's has delayed payments to Aakash Educational Services Ltd (AESL), which it acquired in a cash and stock deal in April last year, multiple people told ET. Aakash App for JEE & NEET is FREE to download. We choose to be part of the entity and redefine the industry. Together with BYJUS, we will work towards building an omni-channel learning offering that will accelerate test-prep experience to the next level. authenticate users, apply security measures, and prevent spam and abuse, and, display personalised ads and content based on interest profiles, measure the effectiveness of personalised ads and content, and, develop and improve our products and services. Byju's - Wikipedia Phoenix Advisers was the exclusive advisor for the AESL. During April-September 2020, Byjus added 45 million new students to its platform. The future of learning is hybrid and this union will bring together the best of offline and online learning, he said. It is estimated to have raised over USD 2 billion in funding to date. It is evident to know about every institute's pros and cons. What went wrong at PharmEasy and can it find a cure? Your session has expired, please login again. Designed for Android version 5.0+ . Partners of 3one4 Capital, a venture capital firm in India, recently went on a road show to raise a new fund. It has its presence in more than 200 coaching centers across the country. Online test prep start-ups are growing tremendously because of these reasons. 140,000.00. Standard messaging rates may apply. And today, offering an online class has become easy, because of availability of software like Zoom, etc. The deal will also help BYJUS introduce new verticals, topics, and languages to its online platform. What will happen to brand Aakash after the takeover? Your session has expired, please login again. Manish Singh. IT services outlook: Strong demand, weak spending story to continue, Aneesh Reddy on why it's a great time to buy in SaaS if you have the money, How organisations can implement new protection strategies against increasing supply chain cyber attacks, Chandrayaan-3: All eyes on India's moonshot. So the push from the investors is naturally to consolidate in favour of the few big organisations, he points out. With over 80 million students cumulatively learning from the app, 5.5 million annual paid subscriptions, and an annual renewal rate of 86%, the app creates personalized learning programs for individual students based on their proficiency levels and capabilities which help them learn at their own pace and style. Take the Aakash iACST online. The Competition Commission of India (CCI) has today approved the proposed combination relating to ed-tech startup Byjus acquisition of a certain stake of Aakash Educational Services Limited (AESL) and thereafter merger of BYJUs and AESL under Section 31(1) of the Competition Act, 2002. "Byju's failed at holding itself to the standard expected of a company its size," said K Ganesh, a serial entrepreneur and angel investor who founded one of India's largest online grocers, BigBasket. Unified by a shared vision to create value for the student community and boost the learning ecosystem, this integration will help accelerate and scale Aakashs growth in the test prep industry. [5] As of April 2023, the company claims to have over 150 million registered students. It also secured more than $1.2 Billion in funding last year, taking the total funding amount to $2.1 Billion, and hit the decacorn status at a $12 Billion valuation. "BYJUS is a private limited company incorporated in India. 1,346 likes, 17 comments - Shreya (@study_mocha_) on Instagram: "<unpack study package with me> @byjus_app #unpack #asmr #unpack #inspire #neet # . At that time they discussed the possibility of working jointly and working together. To buy a copy, visit Amazon. At present time Byjus has over 80 million students cumulatively learning from the app, 5.5 million annual paid subscriptions, and an annual renewal rate of 86 percent. Byjus cited industry reports and said that the test preparation and after-school tutoring (high school) segment is estimated to be a USD 7-8 billion opportunity in India and is expected to witness 55-60 % growth over the next 4-5 years. The TVCs were released during KKRs match with Mumbai Indians See whats happening in Marketing & Advertising right now, Read and get insights from specially curated unique stories from editorial, Explore and discuss challenges & trends in India's leading B2B Marketing events, Recognise work that not only stood out but was also purposeful, Join leaders & experts for roundtables, conferences, panels and discussions, By continuing you agree to our Privacy Policy & Terms & Conditions. As the Aakash has very little presence in the ed-tech industry. Managing Director & Co-Promoter Aakash Chaudhry and his family are giving up their entire stake in the firm for a 70:30 cash-equity deal under which they will receive an undisclosed stake in BYJUS for about 30 percent of the payment. As we unite our forces to bring together decades of expertise and experience, this partnership will further accelerate Aakashs growth and success., Aakash Chaudhry, Managing Director, AESL said At Aakash, we are looking to transform student experiences by steering innovative and digitally-enabled learning solutions. Percentage of equity (laughs)its in single digit. We have always believed omni-channel will be the winning model in test prep and tutoring, and we look forward to being a part of the partnership between the two foremost companies in Indian supplementary education Aakash and BYJUS. BYJU'S to acquire Aakash Educational Services in $1B deal - India TV News All rights reserved. While technology will disrupt the market, we had to assess which side of the disruption you wish to beyou want to be on the side where you get disrupted and are not left with a choice or be part of the disruption. The acquisition will allow the two biggest entities of their respective business to build the largest omnichannel for students in India. No matter how much the technology is evolving, the traditional way of teaching i.e. Analysts say investors are used to handling bull and bear runs and have short memories when it comes to these dips. The company has seen steady growth for the four years in the education sector and launched the Byju, the Learning App in August 2015. Your email address will not be published. When not chasing stories, he is most likely obsessing over Formula 1 (Read: Lewis Hamilton), historical events and people, or planning long weekend drives from Bengaluru. For BYJUS, the next set of segments of interest, and possibly acquisitions, could come from other areas of test preparation such as civil services, government, and banking exams, as well as entrance exams in law and management. 5 Ways Aakash BYJU's Help Students With Competitive Exam Prep Comprehensive Courses Cover the complete syllabus, get classs notes and study material. "India has good corporate governance laws," Mr Shriram said. Jun 12 i was in aakash byjus for two years. Bangalore-based BYJUS was founded by Byju Raveendran and Divya Gokulnath in 2011 as an educational company that offers online video-based learning programs for the K-12 segment and competitive exams. 21 likes, 1 comments - Kashmir Life (@kashmirlifeofficial) on Instagram: "#klads #paidpartnership Aakash Byju's announces admission open for class 8th to 12th and Repeater." Kashmir Life on Instagram: "#klads #paidpartnership Aakash Byju's announces admission open for class 8th to 12th and Repeater batches for NEET 2024 at all Centres. the physical presence of both students and the teacher is still irreplaceable and BYJUS knows it. Amit Dixit, Co-Head of Asia Acquisitions and Head of India Private Equity at Blackstone, said We invested in AESL because it is one of the leading education brands in India with a professional management team, best-in-class corporate governance and a 33-year track-record of exceptional results. [CDATA[ It'll just take a moment. 5:41 PM PDT May 7, 2023. Aakash unveils new logo showing integration with Byju's The mentor will tell that you can interact with the teacher but when you ask the teacher to repeat a party they will simply say "watch the recording again" So it is in a curious position. In this article, I am going to talk about the acquisition deal between Aakash Educational Services Limited Institute and BYJU'S. The cash-and-stock deal was closed at almost $1 billion last week, making it one of the most expensive deals in India's . The test prep is also helpful to people to get gilt-edged government jobs. As a good entrepreneur, if you realize that your business is in safer hands, then you are at peace. These offerings by the offline major are categorized under three brands Aakash Medical, Aakash IIT-JEE, and Aakash Foundations. Byju's, the country's largest online edtech start-up, has acquired a 33-year-old brick-and-mortar coaching centre Aakash Educational Services Ltd (AESL) for nearly $940 million in a cash and. Byju's Moves Aakash IPO Timeline To 2024 Amid Serious Cash Crunch Chaudhry had moved only a few years before that to the capital in search of a better life from the nondescript village of Sevli in Haryana, where his father had run a small textile shop. The same goes with the selection of coaching centres too. Clear Concepts Byju has been able to rightly blend the technology and knowledge to todays generation. After the integration, BYJUS will make further investments to accelerate Aakashs growth. In April, the firm's office in Bengaluru was raided by Indian authorities over suspected violations of foreign exchange laws. Shreya on Instagram: "<unpack study package with me> @byjus_app AI quiz: Can you tell which person is real? Blackstone Group-backed Aakash Educational Services Limited (AESL) is a thirtythreeyearold coaching institute that offers test prep services for medical and engineering entrance exams, school board exams, NTSE (National Talent Search Examination), , and other foundation level exams to students in classes 8-10 for school boards and junior competitive exams. It also secured more than $1.2 Billion in funding last year, taking the total funding amount to $2.1 Billion, and hit the decacorn status at a $12 Billion valuation. At Forbes India, Manu writes on automobiles, aviation, pharmaceuticals, banking, infrastructure, economy and long profiles among many others. Look, edtech is in this peculiar situation where a lot of money from venture capitalists have flowed into very few firms; it is not evenly distributed. //BYJU'S completes Aakash Educational merger; founders become - YourStory BYJUS has also acquired several start-ups and businesses to expand its offerings and push its market share and ed-tech penetration through its subsidiaries. But we felt Byjus is more prepared and in a better place to take a brand like Aakash forward. Morning Buzz: Mohandas Pai and Rajnish Kumar to join Byju's advisory council, new SIP accounts hit record high in June and more, Sacred simplicity and the Tamizh way of life. AESL (directly, or through its subsidiary Aakash Edutech Private Limited, or through its franchisees) provides curriculum-based coaching for K-12 students and test preparatory services for various competitive examinations such as, engineering examinations, medical examinations, Olympiads, National Talent Search Examination, etc. As such, Byjus shall effectively acquire complete and sole control over AESL," the corporate affairs ministry said in a statement on Tuesday. Download your NEET UG 2023 result and take a printout of the same for further reference; Details Mentioned on NEET UG Score Card 2023. . It offers a technology-based education platform for primary and secondary school subjects, overseas and domestic test preparatory coaching services for entrance examinations for engineering, medical, etc," the statement said.